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ok here's who i want to raise taxes on now you tell me what you want to cut in the public and said ok cool no tax hikes on the rich but let's raise the eligibility age for medicare let's cut hundreds of billions out of social insurance programs your take on this well my take is that the democrats and the republicans tom are both ignoring the obvious and that is wall street put us here wall street burned down the economy we then gave wall street trillions of dollars for their bad we then gave them bonuses and now if they really wanted to solve this problem they would again have courage to put on the on the table if we want to tax somebody let's tax the people who put us here let's add some type of sales tax to wall street transactions where we're securities are exchanged and in derivatives are sold and bonds are exchanged there's always been this notion we can't tax we can't tax wall street if you put even a fraction of a tax on those transactions tom you would have more than enough to wipe out this deficit and it's not unheard of look in the u.k. they've been doing this for three hund
ok here's who i want to raise taxes on now you tell me what you want to cut in the public and said ok cool no tax hikes on the rich but let's raise the eligibility age for medicare let's cut hundreds of billions out of social insurance programs your take on this well my take is that the democrats and the republicans tom are both ignoring the obvious and that is wall street put us here wall street burned down the economy we then gave wall street trillions of dollars for their bad we then gave...
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Dec 7, 2012
12/12
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CURRENT
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if it's acceptable -- if john boehner and barack obama cut a deal, it will pass the senate and the house no matter what nancy pelosi wants. >> i disagree with that. >> we have agreed so far on almost everything so. >> not here to necessarily agree. >> not 95, '96, gingrich who could dictate. if john boehner did which was walk into the caucus and say accept this or i am leaving, they will say bye. same thing with obama. the democratic caucus thinks they have the leverage >> bill: 20 minutes. here stan collender lendcollender. i am going to ask you about apple announcing that they are going to have a whole new line of computer manufacturing in the united states and what that means leading up to the job numbers at the bottom of the hour. "full-court press," friday december 7th. >> this is the if you recall court press. , the bill res show live on your radio and on current t.v. street, destruction of medicare and medicaid. there are real issues here. having been a governor, i know that trade-offs are tough. things everyday exploding around the world that leave no shortage for exciting conver
if it's acceptable -- if john boehner and barack obama cut a deal, it will pass the senate and the house no matter what nancy pelosi wants. >> i disagree with that. >> we have agreed so far on almost everything so. >> not here to necessarily agree. >> not 95, '96, gingrich who could dictate. if john boehner did which was walk into the caucus and say accept this or i am leaving, they will say bye. same thing with obama. the democratic caucus thinks they have the leverage...
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Dec 6, 2012
12/12
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governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affe
governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus,...
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Dec 13, 2012
12/12
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. >> kristen, let's talk about what the president is able to acquiesce about spending cuts? this about compromise or total victory? >> i think to some extent it's about compromise. but there is no doubt that president obama believes he has leverage when it comes to getting tax increases on the wealthiest americans. at this point in time, showing no sign that they're going to give on the issue. it's a bit of a game of chicken which mike was talking about, both side is waiting for the other to concede a little before they agree to give up anything. president obama is going to continue his p.r. campaign today, thomas. to try to put the pressure on house republicans to get on board. he's going to grant a number of interviews to anchors from local affiliates from across the country. of course, we've had him invite chief stakeholders here to the white house. he's also traveled, making trips to pennsylvania, as well as michigan in recent days to kind of put the pressure on republicans to come over to his side on this issue of taxes. but, of course, that continues to be the main sti
. >> kristen, let's talk about what the president is able to acquiesce about spending cuts? this about compromise or total victory? >> i think to some extent it's about compromise. but there is no doubt that president obama believes he has leverage when it comes to getting tax increases on the wealthiest americans. at this point in time, showing no sign that they're going to give on the issue. it's a bit of a game of chicken which mike was talking about, both side is waiting for the...
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Dec 13, 2012
12/12
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FBC
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this on a day when president obama said i have cut $1 trillion already in spending. that was part of last summer's budget deal. but he says that i am willing to do a lot more cuts in spending. you have a willingness to do spending cuts, a willingness from john boehner to raise revenues. however, we have been stuck on the details of this thing for the past two weeks here. the past three weeks or longer. the white house is putting an offer on the table. they were far apart in spending cuts. our part in revenues and the way they do increase tax revenues. republicans say no to any tax rate increase. how speaker john boehner says they will do it by limiting deductions next year. what the white house wants is an immediate tax rate increase on families earning more than $250,000 per year. they have been going round and round. there has been incredibly little progress in washington since the offers officers were first treated. with respect you could start to run up to christmas here. it could take up to three days to get something through the senate. republicans have to sell
this on a day when president obama said i have cut $1 trillion already in spending. that was part of last summer's budget deal. but he says that i am willing to do a lot more cuts in spending. you have a willingness to do spending cuts, a willingness from john boehner to raise revenues. however, we have been stuck on the details of this thing for the past two weeks here. the past three weeks or longer. the white house is putting an offer on the table. they were far apart in spending cuts. our...
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Dec 6, 2012
12/12
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conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended medicare by nearly a decade. their plan ends medicare as we know it. >> on medicare, for current retirees, he's cutting is $716 billion from the program. i can't understand how you can cut medicare $716 billion for current recipients of medicare. >> look, these guys haven't been big on medicare from the beginning. their party's not big on medicare from the beginning. folks, use your common sense. who do you trust on this? >> so, now, of course, given all the campaign rhetoric coming from both sides, we are on the other side of an election that proved that there is a bipartisan consensus, that it is bad to be the kind of p
conway distracts with negative ads to hide his support for obama care, which cuts medicare by $500 billion. >> that was 2010. fast forward to this year's election and the same principle carries through. each side tried to convince voters that the other guy wanted to take the hatchet to medicare. >> the biggest, coldest power play of all in obama care came at the expense of the elderly. $716 billion, funneled out of medicare by president obama >> my plan's already extended...
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Dec 8, 2012
12/12
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CSPAN
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tax cut. having done that, held of those initiatives, speaker john boehner says democrats are walking the economy to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we have had time, the president has given republicans flexibility to come up with a credible, specific plans. what they offered in return was an empty letter, lacking in specifics. it was a manifestation of a lack in the republican caucus about the tax cut and no specifics in their planned, and not even senator mcconnell endorsed the plan. we can make a difference right now, by putting the middle- income tax issue up for a vote. democrats are unified on it. we have been discharged position to bring it to t
tax cut. having done that, held of those initiatives, speaker john boehner says democrats are walking the economy to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we...
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Dec 7, 2012
12/12
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the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to chose tax loopholes and limit some deductions. they say the president needs to deliver a new plan that they can agree on and soon. it's also important to note that congress is scheduled to adjourn december 21st and the president is supposed to be headed to hawaii for vacation on december 17. >>> after doing some downsizing starbucks is back to brewing up some expansion plans and that includes another san francisco store. at market and sanchez. cbs 5 reporter mike sugerman tells us some small businesses in that area are trying to grind that plan to a hal
the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal terms. >>...
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Dec 13, 2012
12/12
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speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders. mike, we're hearing frustration from republicans but the breaking news, 5:00 p.m. east coast time these two getting together again. >> this is critical a 5:00 meeting at the white house between the president and speaker, the two key figures in trying to hammer out a deal. the republicans were trying to make the point spending is the nature of the government's problem, not tax revenue. they prepared a chart showing spending is expected to increase from now to 2041 while tax revenue is expected to hold consistent. so at one point today the speaker of the house sounded like he was kind of tired of answering hypothetical questions. >> ifs and and and butts are like candy and nuts. if that's the case, every day would be christmas. my goal is to get to an agr
speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders. mike, we're hearing frustration from republicans but the breaking news, 5:00 p.m. east coast time these two getting together again. >> this is critical a 5:00...
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Dec 5, 2012
12/12
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because obama and the affordable care act cut medicare by $700 billion. they did it in a very careful way. they did it in a way to protect beneficiaries and responsible. they faced up. they said medicare does need to be trimmed. we need to do it in a smart way and did this. >> why is it off the table now? >> well, precisely because they did -- took that step. they took that very big step and now everyone -- now the idea's, all right, we took the found cut and starting the experiments now. let's see how they work. there's a very good chance, in fact, we are seeing signs that some of them are starting to save some money. we cut $700 billion. we have these pilot programs going forward. let's watch. we have taken enough out of medicare for now and see how the experiments go. if they work out and if a few of them work out, we'll get bigger shape and in better shape fiscally. >> the line in the sand of the president is not don't touch medicare but the benefits provided but back to what you were saying about the way that republicans handled medicare in the last
because obama and the affordable care act cut medicare by $700 billion. they did it in a very careful way. they did it in a way to protect beneficiaries and responsible. they faced up. they said medicare does need to be trimmed. we need to do it in a smart way and did this. >> why is it off the table now? >> well, precisely because they did -- took that step. they took that very big step and now everyone -- now the idea's, all right, we took the found cut and starting the...
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obama's plan in the poll 48% want the tax cuts on incomes exceeding quarter million dollars a year to expire in january while continuing them for everyone else. 32% want to renew the tax cuts for everyone. findings seem to strengthen the president's hand in his negotiations >> recall alert for parents from 7 on your side. government is taking action against makers of nap nanny, a portable baby recliner, after five infanned -- five infant deaths. the nap nanny poses risk of injury and death to infants. the commission says it is a dangerous product with a faulty sign. coming up on "good morning america" at 7:00, why the makers are refusing to pull its product. >>> this afternoon cal will hold a news conference to introduce the bear's new coach, sonny dykes has hired yesterday to rebill the program he leaves louisiana tech after three seasons. this year -- his bulldogs led the nation in scoring. he runs spread offense expected to bring exciting football to berkeley he has previous experience in pac 12 as assistant at arizona. >>> still ahead, same-sex marriage is now legal in yet another
obama's plan in the poll 48% want the tax cuts on incomes exceeding quarter million dollars a year to expire in january while continuing them for everyone else. 32% want to renew the tax cuts for everyone. findings seem to strengthen the president's hand in his negotiations >> recall alert for parents from 7 on your side. government is taking action against makers of nap nanny, a portable baby recliner, after five infanned -- five infant deaths. the nap nanny poses risk of injury and...
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Dec 13, 2012
12/12
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and it's not raising taxes on them, it's letting the old tax cuts expire as they were supposed to do two years ago. >> thank you. >> stephanie: good morning, congress woman judy chu. >> good morning. >> stephanie: thanks for take time with us. >> it's great to be with you. >> stephanie: i'm sure you are looking at the same polls i am the vast majority of americans agree with him exactly on these issues, right? >> exactly. in fact it is really upside down. the people who lost the election are protecting the top 2% the people who won the election are fighting to protect the tax rate of 98% of americans. >> stephanie: thank you. i thought i read this wrong this morning. i don't think john boehner understands what compromise means. the president reduced the income from $12.2 billion, and boehner responded with the exact same proposal. >> it's not a compromise. in fact i would say that republicans don't want taxes to go up on the middle class, so why aren't we reaching an agreement? the only reason we are now is if republicans are too stubborn to reach a compromise. >> stephanie: right. b
and it's not raising taxes on them, it's letting the old tax cuts expire as they were supposed to do two years ago. >> thank you. >> stephanie: good morning, congress woman judy chu. >> good morning. >> stephanie: thanks for take time with us. >> it's great to be with you. >> stephanie: i'm sure you are looking at the same polls i am the vast majority of americans agree with him exactly on these issues, right? >> exactly. in fact it is really upside...
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we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl r
we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our...
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Dec 6, 2012
12/12
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KRCB
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citigroup announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion a year in expenses. but they won't be cheap, resulting in a billion-dollar charge against fourth-quarter earnings. is this gloomy news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other
citigroup announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks....
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Dec 12, 2012
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now defense cuts. more and more republicans are saying that they're willing to talk about it. >> good. >> saying it junt cuts their credibility on other spending issues. >> good. >> it's the pentagon. >> there is so much waste in the pentagon. it's one of the few bureaucracies you can't audit. it is impossible. whether you're talking to peter peterson, dave walker, they tell you, you can't audit the pentagon. it is impossible. >> and yet there are some republicans you say who are willing to go out on a ledge and say it's time to look at this. and what are the costs of doing that politically? >> well, they are, and part of it is the changing times. it's not the cold war anymore. it's these younger members who are coming up. also to be consistent, you have members saying why are we opposing the sequester? why are we panicked that these spending cuts might take place? this is what we want. so that's another fight that's in the conference. are they going to be totally consistent on spending, or are they go
now defense cuts. more and more republicans are saying that they're willing to talk about it. >> good. >> saying it junt cuts their credibility on other spending issues. >> good. >> it's the pentagon. >> there is so much waste in the pentagon. it's one of the few bureaucracies you can't audit. it is impossible. whether you're talking to peter peterson, dave walker, they tell you, you can't audit the pentagon. it is impossible. >> and yet there are some...
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Dec 13, 2012
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obama wants to cut $500 billion out of medicare. not true. a lot of his key arguments, and, of course, the jeep ad at the end. >> the one that offends me the most is the apology tour. it's foundational. he's putting that down in the ground. and i want to get joan in here. he puts that down and says sort of his takeoff platform. he's apologizing but i'll be a robust patriot. i'll defend america against anything foe or friend because i'm a real american. and this guy because he recognizes we live in a world of other countries that are decent countries. they're not all the enemy out there. this right wing attitude it's just us or just us and israel against all these evil third world people and they're just crazy about that. it's so dangerous. >> to finish this point for one second. the thing is -- and this is what ornstein was saying too. that his campaign was based on a lot of major big sweeping lies. now, you can look at obama and point out that he made a mistake, misrepresented obama's policy in this way and that way. but that the overall cas
obama wants to cut $500 billion out of medicare. not true. a lot of his key arguments, and, of course, the jeep ad at the end. >> the one that offends me the most is the apology tour. it's foundational. he's putting that down in the ground. and i want to get joan in here. he puts that down and says sort of his takeoff platform. he's apologizing but i'll be a robust patriot. i'll defend america against anything foe or friend because i'm a real american. and this guy because he recognizes...
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Dec 13, 2012
12/12
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CNNW
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the president obama's proposals have been anything but balanced. he wants far more in tax hikes than spending cuts and instead of beginning to solve our did you tell probledebt problem, he new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. it's clear that the president's just not serious about cutting spending. but spending is the problem. how big a problem? look at this chart put together by paul ryan and budget committee. this line is the current baseline for revenue. here if the president got everything he wanted, over $1.4 trillion in taxes, this is what that would represent. but if you look at the spending problem, you see it does nothing. nothing to solve the spending problem that our country has. republicans want to solve this problem by getting the spending line down. the president wants to pretend spending isn't the problem. that's why we don't have an agreement. the chart depicts what i've been saying for a long time now. washington has a spending problem that can't be fixed with t
the president obama's proposals have been anything but balanced. he wants far more in tax hikes than spending cuts and instead of beginning to solve our did you tell probledebt problem, he new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. it's clear that the president's just not serious about cutting spending. but spending is the problem. how big a problem? look at this chart put together by paul ryan and budget committee. this line is...
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Dec 8, 2012
12/12
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the thing that a lot of people worry about in private is him and obama will cut a deal in late december negotiations. but boehner has been making tough calls. when it comes down to it he's going to agree to something with the president and it is not going to be able to pass his own conference. do you have any sense of what you think he's able to do and not do at this point? >> we come back again to the entitlement question. it's going to be easier for the caucus to swallow some tax rate increase if they have something to show for it. and the irony here, on a whole variety of issue, the democrats should be in favor of certain kinds of entitlement reforms. it's not actually that big of a give. on social security, as an example, democrats have won for the time being on privatization being completely off the table. there's a strong argument for trying to lock that in now as oppose eed to waiting and having that potentially come back. in addition, one of the big concerns here is doing too much fiscal austerity too soon. the more you did in the form of social security chrks can be phased in g
the thing that a lot of people worry about in private is him and obama will cut a deal in late december negotiations. but boehner has been making tough calls. when it comes down to it he's going to agree to something with the president and it is not going to be able to pass his own conference. do you have any sense of what you think he's able to do and not do at this point? >> we come back again to the entitlement question. it's going to be easier for the caucus to swallow some tax rate...
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Dec 6, 2012
12/12
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MSNBC
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you said that. >> which is why i'm glad that president obama had the courage to end the bush tax cuts two years ago -- oh, wait a second. i'll tell you what. you know what? >> i agree with you. >> extended them for two more years, but at least now he's got the nerve, the courage to do what democrats have been saying all along, and end the bush -- oh, wait a second. no. he's actually keeping 98% of them. huh. >> look, he's keeping it for 98% of the country. i happen to agree. you know, i'm a supporter of the simpson-bowles approach, but we are where we are right now. and i think to chuck's point, this may make it -- and to your point -- and they may get to a point where this is very uncomfortable for democrats. again, $2 trillion, both are asking for that, it with certainly get us through the year, avoid sequestration, avoid the pain that many in the business community are concerned about. if we start growing again, imagine how easy this conversation will be next year if the economy is growing at 3% to 4%. >> yes, and the spirit of jack kemp rises from the table of "morning joe." >> gr
you said that. >> which is why i'm glad that president obama had the courage to end the bush tax cuts two years ago -- oh, wait a second. i'll tell you what. you know what? >> i agree with you. >> extended them for two more years, but at least now he's got the nerve, the courage to do what democrats have been saying all along, and end the bush -- oh, wait a second. no. he's actually keeping 98% of them. huh. >> look, he's keeping it for 98% of the country. i happen to...
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the voluntary program is part of an effort to cut costs by 1.7 billion dollars per year. fedex stock, no change, 88 bucks a share. now joining the company from chicago is our next guest. the headline for the day is president obama has drawn a line in the sand, he says there isn't a deal on the fiscal cliff unless you raise tax rates on the rich, very important, tax rates on the rich. what do you make of that? >> well, first of all, in some ways, you have to say that the big spending, big government liberals are winning this debate, because they have reframed the entire discussion about revenues. listen, washington has a spending problem, and as long as we kind of misdirect this discussion and we only talk about taxes, then we never discuss any meaningful reform in entitlements. we never discuss spending. so from this standpoint, the left is absolutely winning this argument, because that's what you and i are talking about right now, tax revenue. there is not a revenue story. -- this is not a revenue story. it is a spending story. >> thank you, you are right sir, yet again.
the voluntary program is part of an effort to cut costs by 1.7 billion dollars per year. fedex stock, no change, 88 bucks a share. now joining the company from chicago is our next guest. the headline for the day is president obama has drawn a line in the sand, he says there isn't a deal on the fiscal cliff unless you raise tax rates on the rich, very important, tax rates on the rich. what do you make of that? >> well, first of all, in some ways, you have to say that the big spending, big...
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Dec 5, 2012
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instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that view that they should give into what the president is suggesting, at least temporarily, and continue to negotiate on the rest because there's a lot of political pain here for republicans if we do get to the point where we go over the cliff because of those higher tax rate pateryers, guys. >> all right, eamon. thank you. >> the talk continues, but none of it face to face. be sure to catch a live interview with one of the k
instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table...
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considering that obama has been open to spending cuts in previous negotiations and says he is open to it now and republicans have changed from where they were a year ago when it comes to tax increases, i think it will not take too much to get there, although there are still obstacles. host: the $1.60 trillion and $800 billion are the opening numbers. where are we with those numbers now? have those numbers been altered? guest: i do not know if republicans have gone above $800. the question will be, will obama be able to get above $800. once you start talking about the $1 trillion number, that is a politically sensitive number. obama might want to get above $1 trillion. republicans will want to keep it below $1 to win. host: are the senate ways and means and finance committees involved in these discussions? guest: sam bachus, the ways and means chairman, they're keeping in touch. their staff are very involved, because they're the guys who know all about taxes. they are definitely going to be involved in negotiations, even if they are slightly not in the heart of it, which is boehner and
considering that obama has been open to spending cuts in previous negotiations and says he is open to it now and republicans have changed from where they were a year ago when it comes to tax increases, i think it will not take too much to get there, although there are still obstacles. host: the $1.60 trillion and $800 billion are the opening numbers. where are we with those numbers now? have those numbers been altered? guest: i do not know if republicans have gone above $800. the question will...
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liz: president obama met with ceos head of the looming deadline for tax cuts and spending cuts. david: a fiscal deal could be reached in a week. rich edson with the latest. it was an off the record meeting. this is a meeting that affects all of us. speak of the business roundtable says all the meetings are off the table and they have the initial remarks live and available to the press. in that the president did say we could settle this issue in a week if republicans relent on their position for taxes. offering $800 billion in tax revenue, coming from only closing loopholes and seductions, no to a tax rate increase for the president says it is making $250,000 or more, tax rates are going up. >> we will not raise them just out of spite, but rather because the need to raise a certain amount of revenue. >> the president doesn't agree with our proposal and our outline, think he has an obligation to send one to the congress. and a plan that could pass both chambers of commerce. if you look at the plans the white house has talked about thus far, they couldn't pass either house of the c
liz: president obama met with ceos head of the looming deadline for tax cuts and spending cuts. david: a fiscal deal could be reached in a week. rich edson with the latest. it was an off the record meeting. this is a meeting that affects all of us. speak of the business roundtable says all the meetings are off the table and they have the initial remarks live and available to the press. in that the president did say we could settle this issue in a week if republicans relent on their position for...
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obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even some democrats are siding with republicans saying they want it keep current rates. all the sides here tyler remain very far apart. wealthy families need 20 rewrite their wills and charity plans. for the country, there are hundreds of billions of dollars at stake. under old rates, they raise $532 billion by 2021. obama plan raised around $270 billion, about half. gop raises about $161 billion. the fight over taxing the rich, especially in the estate tax, is far from over. back to you, tyler. >> not the first time the estate tax has come up in these kinds of negotiations. in 2010, the estate tax was zero for that year. the people who passed way in that year had nothing subject to tax. let's talk about the guy who might eventually be interested in the estate tax. we just learned the identity of the second big powerball winner from a wealthy neighborhood in phoenix. his name is matthew good. it is good to be good. he is taking his winnings he says in a um lp sum.
obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even some democrats are siding with republicans saying they want it keep current rates. all the sides here tyler remain very far apart. wealthy families need 20 rewrite their wills and charity plans. for the country, there are hundreds of billions of dollars at stake. under old rates, they raise $532 billion by 2021. obama plan raised around $270 billion, about half. gop raises...
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pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour"
pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour"
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no discussion of spending cuts. obama wants even more spending increases. and a lot of republicans, conservatives, are saying you know what? we don't want a tax hike at all. we give boehner credit but we don't want a tax hike. this is not the time. it's a very anemic economy. let's just let the democrats have their tax hike and we'll be done with it. other than that, jimmy, i don't think this thing gets done. that's what i'm coming around to. >> well, i think that there's a chance to that. a chance for that to happen in the scenario that you just described. but i don't think that is what happens. frankly, i think with the vice president saying today that the issue of whether the top rate is 39.6 or 37 it's really doesn't matter. that was a huge olive branch as our colleague just said. this is a signal, a smoke signal like a vatican smoke signal sent from the administration to speaker boehner today. >> but that's been out there before. >> i understand that. >> there's only a handful of republicans, what are you going to get, a percentage point? mark seimone,
no discussion of spending cuts. obama wants even more spending increases. and a lot of republicans, conservatives, are saying you know what? we don't want a tax hike at all. we give boehner credit but we don't want a tax hike. this is not the time. it's a very anemic economy. let's just let the democrats have their tax hike and we'll be done with it. other than that, jimmy, i don't think this thing gets done. that's what i'm coming around to. >> well, i think that there's a chance to...
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part of the push to preserve the middle class tax cut. here he is around the table in the washington area today. if the president and congress cannot reach a deal, tax rates for the middle class and everyone else goes up the first of the year. meanwhile, senate minority leader mitch mcconnell today prevented a simple majority vote to give the president the power to raise the u.s. debt ceiling. president obama pushed for the power trance fosform as part of white house plan they unveiled a week ago. fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slas
part of the push to preserve the middle class tax cut. here he is around the table in the washington area today. if the president and congress cannot reach a deal, tax rates for the middle class and everyone else goes up the first of the year. meanwhile, senate minority leader mitch mcconnell today prevented a simple majority vote to give the president the power to raise the u.s. debt ceiling. president obama pushed for the power trance fosform as part of white house plan they unveiled a week...
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. >>> president obama took his pitch for preventing a fall off the fiscal cliff to a family in falls church yesterday. he did it to drive home the impact that many would feel approximate bush era tax cuts are allowed to expire with the average family expected to pay about $2200 more in taxes each year. >>> coming up next, we will check in with holly. she is live in morning at the montrose crossing giant for stuff a truck 2012. find out more on how you can make this holiday a happy one for local families. we are checking back in with gwen for your weekend forecast. fox 5 morning news will be right back in a moment. >>> welcome back. you hear that music, you know what it means. our stuff a truck phone bank is waiting for your call. we have seem up with the capital area food bank to raise awareness about hung are here in the d.c. region and get you to help us stuff their trucks with some needed food items. if you would like to help, call 202-895-3307 right now. the number is there on your screen. screen. there is information on how you can donate by text or online as well. and
. >>> president obama took his pitch for preventing a fall off the fiscal cliff to a family in falls church yesterday. he did it to drive home the impact that many would feel approximate bush era tax cuts are allowed to expire with the average family expected to pay about $2200 more in taxes each year. >>> coming up next, we will check in with holly. she is live in morning at the montrose crossing giant for stuff a truck 2012. find out more on how you can make this holiday a...
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president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only way we can get a responsible fiscal deal. and if that deal begins to take shape in late december, the only way to resolve the cliff may be to temporarily go over the cliff so that tax rates reset and we can get on a bitter fiscal trajectory, and -- and -- they can quickly, as nicole mentioned, reverse some worse effects of that. and in that sense, we've gone over it, but briefly. i'm not for it but that is a resolution that would really use the leverage, the dynamics that are in play right now to finally get us on a more sustainable fiscal path. >> it's not juvenile hal
president obama said that he is willing to sign it. so that would be one way to just sort of get some of this panic out of the way and let people deliberate and make some really good choices when we come back in january. >> i want to bottom line it very quickly with jared. i'm going to make you squirm, jared. >> god luck. >>maker the argument for going over it. you have to argue for it. go over the whole thing. what would it be? get our aaa back? >> that may be the only...
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boehner was really only talking about the cost cuts that he's looking for from obama. obama's just trying to negotiate. so i don't even know why he spoke today. maybe to throw some cold water on the notion or maybe throw hope. we don't know. the point is ignore the headlines. let's just -- just invest for longer term. >> josh, what do you make of the 100-point move we're seeing in the dow today? it is the fifth straight session that the dow has been higher. we haven't had a stretch like that since march. >> scott, bank of america merrill lynch is out with a report today. they look at fund flows. what they've seen is something remarkable. individuals have been selling. but institutions and he think funds have been net buyers for the last four week institutions have bought an average of $300 million in net worth of stock. what that's telling you is that they're way more concerned with getting in position for next year and whatever the fed's going to do. tomorrow it's widely expected bernanke's going to announce some kind of a transaction in which he buys basically $650 b
boehner was really only talking about the cost cuts that he's looking for from obama. obama's just trying to negotiate. so i don't even know why he spoke today. maybe to throw some cold water on the notion or maybe throw hope. we don't know. the point is ignore the headlines. let's just -- just invest for longer term. >> josh, what do you make of the 100-point move we're seeing in the dow today? it is the fifth straight session that the dow has been higher. we haven't had a stretch like...
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then its sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house wants a less generous estate tax. max-leaning states like baucu baucus. host: that was the headline recently in "the wall street journal," showing the senators. at its highest, was that was the estate tax? how many people did the estate tax affect? guest: we are talking tens of thousands. right now it affects 3000 the estates. the exemption level is set high historical novel. it has come down significantly. big argument from conservatives is it hits small businesses and farms. the number a hits is a small fraction. host: if nothing happens, what happens to the estate tax? guest: then it goes back to the levels of an exemption of $1 million. host: and that co
then its sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house wants a less generous estate tax. max-leaning states like baucu...
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all of those americans, too, get a tax cut. the obama administration is happening what happens for the aying american families. we have congressman randy forbes. >> let me ask you something. do you feel like a president actually wants this to happen so that it gives him some political ad vantage? >> i have to judge that by two things. first of all what i am hearing from my colleagues on the democratic leadership side they said they wanted to go over the fiscal cliff because we have argued all along they will start by simply taxing everybody over 250,000. they told me they wouldn vote fr anything that would tax everybody over 150,000. you take the president's actions. the president doesn't want to get an agreement or compromise he wants to get his way. he won't come to the table with any serious proposal because we can get a solution everybody can live with. >>> they have a bit of a messaging problem. i don't understand why there's not more of a conversation that starts with the fact these taxes go up. democrats would not extend
all of those americans, too, get a tax cut. the obama administration is happening what happens for the aying american families. we have congressman randy forbes. >> let me ask you something. do you feel like a president actually wants this to happen so that it gives him some political ad vantage? >> i have to judge that by two things. first of all what i am hearing from my colleagues on the democratic leadership side they said they wanted to go over the fiscal cliff because we have...
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putting forth the petition for the middle class tax cuts in the house. >> like that. >> stephanie: a little something for everybody this morning. here she is, jacki schechner for everybody. in the current news center. >> good morning, everybody! president obama is meeting with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional
putting forth the petition for the middle class tax cuts in the house. >> like that. >> stephanie: a little something for everybody this morning. here she is, jacki schechner for everybody. in the current news center. >> good morning, everybody! president obama is meeting with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention....
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we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington. thank you. >>> last night on the ed show, steny hoyer explains why he thinks the debt ceiling vote should be taken off the table. >> the debt ceiling is a phone y vote, frankly. and from time to time democrats have made it an item that they demagogue down and the republicans have demagogued on it, as well. the debt limit is a re
we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint...
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our costs are going to go up 19.5% next year, so we believe, we'll probably have to cut two or three people just to overcome the extra cost that's going to hit our business in 2013 so we've got obama care going through. we're going to take on half that cost and pass half of that on to our employees. think about that. that means that our middle class employees are going to see that increase in their health care costs next year. >> right. >> howard dean was just on with steve forbes, and howard dean's feeling is, look, we've got to solve this problem of the deficit somehow. we can't keep kicking the can down the road. >> bill, we can't. >> and there needs to be a shared burden for everybody. that would be your burden that you just identified, right? >> well, no doubt. we've got to share it across but think what everybody is talking about, personal income taxes. that's the topic of the day. we've got to raise personal income taxes. what does that do? does that go after warren buffett? warren buffett says he wants his taxes to go up, but what are we going to do, hit people $250,000 and a
our costs are going to go up 19.5% next year, so we believe, we'll probably have to cut two or three people just to overcome the extra cost that's going to hit our business in 2013 so we've got obama care going through. we're going to take on half that cost and pass half of that on to our employees. think about that. that means that our middle class employees are going to see that increase in their health care costs next year. >> right. >> howard dean was just on with steve forbes,...